There is a common misconception that intelligence is synonymous with IQ. "Intelligence Quotient" or IQ was originally built to predict the academic aptitude of schoolchildren, and is nothing more than a measure of the skills needed for academic success. Intelligence, however, is a much broader concept that encompasses a person's level of skill for any of a number of subjects.

Business schools need to help students learn how to thrive under pressure. To understand themselves and their psychological vulnerability that might inhibit their ability to be effective in roles that involve ongoing complexity and duress. Preparation is essential.

CEOs must master three essential attributes, realistic optimism, subservience to purpose, and finding order in chaos. One's capacity in each determines their ability to cope with today's business environment.

In a business setting, one's intelligence is crucial. Many problems faced by today's executives are unique and ill-defined. So, one's ability to analyze information and render a decision based upon the probability of success is imperative. What it comes down to is that all the knowledge in the world is useless if one has no means of processing and applying it. Organizations run on the brainpower of their people.

Knowledge is the accumulation of information whereas intelligence is one's ability to process information to render good decisions.

We frequently hear how essential it is for someone to think "outside the box," but what actually determines one's facility for doing so? In other words, what skills make someone a creative thinker? Typically, creative thinkers can view issues from multiple perspectives, define problems in several different ways, and anticipate likely obstacles. Someone's aptitude for these skills determines how well he or she will perform as a creative thinker.

One of the capabilities, which seems to be the most difficult for aspiring leaders to maste is realistic optimism. It requires one to recognize that our experience of life is largely up to us, that our situations, good or bad, are largely due to our ability on a moment-to-moment basis to capitalize on opportunity. Those that approach life as if it is largely outside of their own control, or that others are largely to blame for their circumstances, generally find growth elusive.